Major U.S. banks came under growing pressure from banking regulators to improve the security of customer account information after Citigroup became the latest high-profile victim of a large-scale cyber attack. While Citigroup insisted the breach had been limited, experts called it the largest direct attack on a major U.S. financial institution, and forecast it could drive momentum for a systemic overhaul of the banking industry's data security measures.
Citigroup said that computer hackers breached the bank's network and accessed the data of about 200,000 bank card holders in North America. Citi waited more than a month before making the full extent of the breach public, drawing criticism from lawmakers and lawyers.
Sprint unveiled the Photon 4G, Motorola's first phone to be based on the carrier's new WiMax technology. Motorola initially held off producing WiMax phones -- touted as faster than current devices -- as Verizon Wireless and AT&T moved to rival high-speed technologies. The Motorola Photon 4G sports a 4.3-inch qHD display, 1GHz dual-core NVIDIA Tegra 2 processor, 1GB of RAM, 16GB of built-in memory, a kickstand for handsfree viewing, and is Sprint’s first world Android phone, operating on CDMA and GSM frequencies.
HP will begin selling its TouchPad on July 1 in the U.S., debuting the first tablet computer powered by Palm's operating software. The TouchPad features a 9.7-inch XGA display, a 1.2GHz Qualcomm Snapdragon processor and NFC capability. The 16GB version will sell for $499.99 and and a 32GB version for $599.99, HP said. A 3G version for the AT&T network will be available sometime this summer.
Nokia said its technology chief was on indefinite leave after a media report of strategy disagreements. Finnish newspaper Helsingin Sanomat said CTO Richard Green had disagreed with CEO Stephen Elop over Nokia's Microsoft-focused smartphone strategy and might not return. Nokia confirmed that Green was on leave and said it was for personal reasons. Speaking at a conference in London, Elop did not mention the matter but was pushed to deny that the company was for sale amid increasingly loud talk that its plunging market value has made it a target.